Ethos & Vior Define Multiple Drill Targets at the Ligneris Gold Project, Abitibi, Quebec, and Prepare for a Minimum 6,000m Drill Campaign
Suite 1430 – 800 West Pender Street, Vancouver, BC V6C 2V6
Ethos & Vior Define Multiple Drill Targets at the Ligneris Gold Project,
Abitibi, Quebec, and Prepare for a Minimum 6,000m Drill Campaign
Vancouver, BC – September 18th, 2019, Ethos Gold Co rp. (“ Ethos ” or the “ Company ”) (TSXV:ECC)
(OTCQB: ETHOF) and Société d'exploration minière Vi or Inc. (“ Vior ”) (TSXV:VIO), are pleased to
announce that they have generated multiple new dril l targets based on a recently completed
comprehensive field program at their Ligneris Proje ct, located 110 km north of Val-d'Or, Quebec.
The project has easy access through paved and all-w eather logging roads. Basic services are
available from the village of Taschereau located 35 km to the south.
Overview
Ligneris lies within the prolific Abitibi Greenston e Belt and has a major hydrothermal footprint
identified by two main zones of approximately 200 t o 300 meters thick and more than 1.8
kilometers long, suggesting a large and deep seated mineralized system. The property is also
transected by a 3-km wide fault zone comparable to other major faults in the Abitibi that host
multimillion-ounce gold deposits. The mineralizatio n at Ligneris is interpreted as an Archean-age,
gold rich VMS system, geologically analogous Agnico Eagle’s flagship Bousquet-LaRonde complex
located 80 km south (approximately 9 million oz pro duction since 1988 plus current reserves, as
reported on Agnico Eagle web site). Highlights include:
• Previous work by Vior (1985-1986), Placer Dome (198 7-1990) and Barrick (1997) included
204 drill holes (approximately 40,000 meters) mostl y clustered around identified
mineralized zones (the North, Central and South Zones) on the project.
• 75 of these 204 holes crosscut significant gold and /or zinc intercepts. Historical drill
intercepts included 10.6 m @ 13.5 g/t Au and 2.9 m @ 62.0 g/t Au in the South Zone, and
1.45 m @ 216 g/t Ag and 2.79% Zn in the Central Zone (see Ethos June 27, 2019 news
release).
• Only 7 holes reached over 300 meters in depth. In comparison current exploration at
LaRonde extends to approximately 3,500 meters depth.
• Previous Ligneris drilling was done without the ben efit of modern, deeper penetrating
geophysics. In early 2019 Vior completed a 717 line-km helicopter-borne VTEM
geophysical survey (see Vior February 28, 2019 news release) and Ethos and Vior have now
completed a 125 line-km gradient induced polarization (Gradient IP) geophysical survey.
• The Gradient IP survey was carried out by Abitibi G éophysique, and 3D inversion processing
of the data by MB Géosolution has outlined signific ant new chargeability anomalies in the
lateral and depth extensions of the existing mineralized zones.
• Specifically this 3D inversion processing of the Gr adient IP data indicates a significant
increase of the chargeability to a depth of 450 met ers that appears correlated to some
historic shallow gold intersections (see example in Figure 1 below). These new deep
chargeability anomalies represent first priority drill targets.
• Some of the target areas generated by the Gradient- IP survey cover a strike of over one
kilometer.
• A new structural study at Ligneris has also recentl y been completed by Ethos and Vior
including a comprehensive field structural mapping program.
• InnovExplo a Val-d’Or based consulting firm were re tained to incorporate all of the historic
and current exploration work into a comprehensive GIS database.
• InnovExplo then utilized Leapfrog-3D software to model and correlate all historic and recent
data into a three dimensional model to generate drill targets.
• Based on this analysis InnovExplo have recommended 27 core holes to test approximately
13 separate target zones, including 11 “Priority 1” (or “P1”) holes.
• The Gradient IP survey has also defined several new shallower depth chargeability targets
spread over a 7-kilometer strike length in the rhyo dacitic and andesitic volcanic rock
package on the property, some of which are in the l ateral extensions of known
mineralization associated to strong alteration zone s in ankerite and sericite. These new
combined geological and geophysical targets have not previously been drill-tested.
• A survey totaling 27 glacial till samples, conducte d in early summer 2019 by IOS Services
Géoscientifiques, returned standardized counts on 1 0-kg samples ranging from 101 to 610
gold grains down-ice from the South and Central zon es. This survey has defined a new drill
target area located in the western extension of the Central Zone, which corresponds to a
Gradient IP chargeability target and a 118-gold grain count in the down-ice direction.
Ethos and Vior are currently refining the drill hole targeting in preparation for a minimum 6,000
meter drill program planned to begin at the end of October 2019.
Example Target
The section below illustrates a deeper chargeabilit y target correlated to nearer surface gold
mineralization:
Figure 1. Proposed DDH017
Previous drilling on this section tested the top 30 0 meters and intercepted multiple intervals of
gold mineralization, including some significant higher-grade intervals (Figure 1). Proposed hole 017
will test a chargeability anomaly identified in the recent gradient IP survey below zone of
mineralization.
Expansion of the Ligneris Property
Based the Ligneris work program to date, Ethos and Vior have been granted or have applied for an
additional 57 claims (27.7 km 2) covering additional areas now considered prospect ive for further
target development. If all these additional claims are granted the Ligneris project area will have
increased from 94 claims covering 36.2 km 2 to 151 claims covering 63.9 km 2.
Summary
Work at Ligneris is being supervised by Marc L'Heure ux, P .Geo., Vior’s VP Exploration whose
experience includes approximately five years workin g in the Bousquet-LaRonde complex. Stated
Mr. L’Heureux: “the new Gradient IP survey processed in combination with historical geochemical,
geological and geophysical data represents a valuab le tool for detecting massive and disseminated
gold-rich mineralization of the volcanogenic type a s found in the Bousquet-LaRonde camp. We are
looking forward to commencing drilling at the end o f October to test the multiple targets that have
been defined by this work”.
Stated Craig Roberts, P .Eng., President and CEO of Ethos: “We are excited to be working towards to
commencing a significant drill program to test thes e high priority targets. We have benefited
greatly from the substantial historic work includin g over 200 drill holes, from extensive modern
geophysical surveys, from the expertise of InnovExp lo in consolidating and analysing all the data,
and from the experience of the Vior team in explori ng this target type and in operating in the
Abitibi region of Quebec. Ligneris has excellent a ccess and we are working in a prolific gold mining
region with highly experienced exploration and mine development personnel and excellent support
infrastructure. We will report when drilling has c ommenced and the drill results as soon as they
are available.”
Ligneris Option Agreement
Ethos can earn a 51% interest in the Ligneris Proje ct by paying Vior 1.0 million Ethos common
shares and by incurring $3.0 million in expenditure s over the first four years of the agreement.
Following an earn-in to 51%, Ethos will have 60 day s to elect to earn a further 19% interest (to a
total 70% interest) by spending an additional $4 million over the subsequent three years.
Qualified Person
Jo Price, M.Sc., MBA, P .Geo., VP Exploration of the Company and a Qualified Person as defined
under National Instrument 43-101 has reviewed and a pproved this news release. The technical
content disclosed in this release was also reviewed and approved by Mr. Marc L'Heureux, P .Geo.,
who is Vior’s Qualified Person as per NI 43-101.
About Ethos Gold
Ethos’ strategy is to earn into potentially large, drill ready gold projects that can be drill tested over
a shorter time frame with a relatively modest budget. Ethos’ current projects include:
Iron Point (earning 50% from Victory Metals Inc: TSX-V: VMX) i s a Lower Plate hosted Carlin-style
gold target, located 22 miles east of Winnemucca, N evada. Drilling supervised by Dr. Quinton
Hennigh has now been completed and results are anticipated shortly.
Carlin East and Swift . Ethos also owns approximately 8% of the equity of Carlin Type Holdings Ltd.,
a private British Columbia company whose wholly own ed US subsidiary, Ridgeline Minerals
Corporation, is earning into 100% ownership of thre e Nevada gold exploration projects, including
two deep Carlin-type targets. Ridgeline has now co mpleted its initial drill program and results are
anticipated shortly.
Ligneris (earning up to 70% from Vior Inc: TSXV:VIO) is loc ated 110 km north of Val-d’Or, Quebec.
The project has a large mineralized surface express ion, and approximately 200 holes drilled to
approximately 300 m depth, with some significant go ld drill intercepts. The project rocks and
mineralization bear many similarities to Agnico’s L aRonde complex. Ethos plans to drill test these
targets commencing in late October 2019.
Perk-Rocky (earning 100%) is a large copper-gold porphyry tar get located 220 miles east of
Williams Lake, British Columbia. A significant air borne geophysics survey along with ground
sampling and mapping has now been completed, with i nterpretation of the geophysics anticipated
by the end of September.
Contact
For additional information please contact Tom Marti n at E: [email protected] P: 1-250-516-
2455 or view the Company’s website, www.ethosgold.c om and the Company’s SEDAR profile at
www.sedar.com.
Ethos Gold Corp.
Per: " Craig Roberts "
Craig Roberts, P .Eng., President & CEO
Forward-Looking Statement Cautions:
This press release contains certain "forward-lookin g statements" within the meaning of Canadian securi ties
legislation, including the Company’s intention to a cquire an interest in the Ligneris Project and plan ned
exploration activities at the Ligneris Project. Alt hough the Company believes that such statements are
reasonable, it can give no assurance that such expe ctations will prove to be correct. Forward-looking
statements are statements that are not historical f acts; they are generally, but not always, iden tified by the
words "expects," "plans," "anticipates," "believes, " "intends," "estimates," "projects," "aims," "pote ntial,"
"goal," "objective," "prospective," and similar exp ressions, or that events or conditions "will," "wou ld," "may,"
"can," "could" or "should" occur, or are those stat ements, which, by their nature, refer to future eve nts. The
Company cautions that forward-looking statements ar e based on the beliefs, estimates and opinions of t he
Company's management on the date the statements are made and they involve a number of risks and
uncertainties. Consequently, there can be no assura nces that such statements will prove to be accurate and
actual results and future events could differ mater ially from those anticipated in such statements. Ex cept to
the extent required by applicable securities laws a nd the policies of the TSX Venture Exchange, the
Company undertakes no obligation to update these fo rward-looking statements if management's beliefs,
estimates or opinions, or other factors, should cha nge. Factors that could cause future results to dif fer
materially from those anticipated in these forward- looking statements include the risk of accidents an d other
risks associated with mineral exploration operation s, the risk that the Company will encounter unantic ipated
geological factors, or the possibility that the Com pany may not be able to secure permitting and other agency
or governmental clearances, necessary to carry out the Company's exploration plans, and the risk of po litical
uncertainties and regulatory or legal changes in th e jurisdictions where the Company carries on its bu siness
that might interfere with the Company's business an d prospects. The reader is urged to refer to the
Company's reports, publicly available through the C anadian Securities Administrators' System for Elect ronic
Document Analysis and Retrieval (SEDAR) at www.seda r.com for a more complete discussion of such risk
factors and their potential effects
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts respo nsibility for the adequacy or accuracy of this
release.